UPDATE 1-Printing firm Quad/Graphics to buy peer LSC in $1.4 bln deal

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(Adds details, share price)

Oct 31 (Reuters) - Printing services firm Quad/Graphics Inc said on Wednesday it would buy peer LSC Communications in an all-stock deal valued at about $1.4 billion, to expand its footprint in the industry.

LSC shareholders will receive 0.625 shares of Quad Class A common stock for each LSC share they own.

The deal represents a premium of 34 percent to LSC Communications shareholders, based on share prices of both companies as of Tuesday's close.